Sarbanes Oxley Act of 2002 Essay Example for Free

Sarbanes Oxley Act of 2002 Essay Descriptions of the main aspects of the regulatory environment which will protect the public from fraud within corporations are going to be provided in this paper. A special attention to the Sarbanes – Oxley Act of 2002 (SOX) requirement; along with an evaluation of whether Sarbanes-Oxley Act will be effective in avoiding future frauds based on their implemented rules and regulations. The main aspects of the regulatory environment are based on the different laws and regulations the different governmental institutions such as federal, state, and local developed to create control over business practices. The regulatory environment creates a positive business financial operational environment as well as efficiency in management, integration of capital flow and domestic savings. For instance, the Securities Act of 1933 which provides regulations and laws to those offering corporate stocks to the public (University of Phoenix, 2014). Another regulatory environment is the Securities Act of 1934. The Securities Act of 1934 regulates and uses laws for trading stocks on markets that are consider as secondary markets like the New York Stock Exchange. The Securities Act of 1933 also provides the requirements for financial reporting and auditing for corporations (University of Phoenix, 2014). When looking at the history of the business environment regulatory compliance has been part of the process of conducting business. In addition, in most industries the different organizations are going to find different rules and regulations that are presented by the government, requiring companies to follow them. In the event, these are not followed the business will be confronted with penalties for not following the regulations that are clearly defined by the government. As time progresses, many regulations were created to help and prevent fraud against the public. Some of these regulations include the requirement of state filing, and laws to create fair lending to the public. An example of this is the Securities and Exchange Commission also known as the SEC. The SEC is a major aspect of the regulatory environment. â€Å"The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation † (SEC, 2013, para. 1). In today’s environment, many are utilizing the market as a way to secure their future. The way to secure the future is by purchasing and paying for a home, pay for children college tuition, as well as any  other expenses. As investors, it is important that the SEC does protect these individuals. According to the SEC (2013) â€Å"the common interest of all Americans in a growing economy that produces jobs, improves our standard of living, and protects the value of our savings means that all of the SECs actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth† (para. 4). The U.S. Securities and Exchange Commission (2013) states â€Å"the laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it† (para. 6). To ensure this rule is followed by ever organization the SEC requires public companies to make the appropriate financial state available to the general public. Making this statement public, future investors as well as current investors can clearly see and determine whether or not the investor wants to purchase, sell or hold an investment. The SEC (2013) also states â€Å"the result of this information flow is a far more active, efficient, and transparent capital market that facilitates the capital formation so important to our nations economy† (para. 7). The SEC is proactively working with other major markets that participate in environmental securities to certify that this guideline is being followed. One of the SEC functions is to supervise the participants in the area of securities world. The securities would include the areas of securities exchanges, securities brokers and dealers, mutual funds as well as investment advisors. Another function the SEC provides is the promotion of disclosure of market related information and to maintain appropriate dealings. In addition, as a yearly procedure the SEC submits civil enforcement actions to those individuals and companies violating any of the securities laws. The infractions can include accounting fraud, trading misconduct, and providing deceptive as well as false information in regards the company’s procedures or securities. In doing this yearly event and disclosing market related data, it allows the SEC to protect companies and individuals against fraud. The SEC is an organization that works closely with other institutions to ensure rules and regulations are implemented and followed by the public. Some of the institutions that work with the SEC include Congress, self-regulatory organizations such as stock  exchange, federal departments, the state securities regulators, and different private sector. The Securities and Exchange Commission is one of the main regulatory environments that assist to protect the public from fraud that a corporation can commit. Another regulatory environment that collaborates with the enforcement of the rules and regulations is the Sarbanes – Oxley Act (SOX). The Sarbanes – Oxley is a regulatory act â€Å"passed by Congress in 2002 in response to a series of massive corporate frauds (i.e., Enron, WorldCom)† (University of Phoenix, 2014, p. 3). When Congress passed the Sarbanes-Oley Act, it was â€Å"to provide greater protections to investors, creditors, and other stakeholders† (University of Phoenix, 2014, p. 3). SOX will provide greater protection by â€Å"reducing unethical corporate behavior† (University of Phoenix, 2014, p. 3). The SOX play a major function with the SEC because not only this also helps protect the public from fraud a corporation can commit, but because this can provide solutions to issues, the SE C is confronted with based on fraudulent accounting practices. A scandal and major concerns on how American Corporations are governed was the Enron and WorldCom scandal of a series of massive corporation frauds. As a result, the Public Company Accounting Reform and Investor Protection Act of 2002 were developed. The act was established to improve transparency, and to create new standards for accounting firms, for management at senior level, for executives, and for board members of public companies. According to Corporate Secretary (2014) a condition this act present is that companies are required â€Å"to have robust internal control systems that can be built into their compliance processes to promote integrity and accuracy within their business operations (para. 2). With the passing of the Public Company Accounting Reform and Investor Protection Act, Congress intent was to help reduce unethical behavior and to eliminate future corporation scandals. As a result of the creation of the Public Company Accounting Reform and Investor Protection Act the penalties for fraudulent financial activities are more severe (Corporate Secretary, 2014). The Sarbanes – Oxley Act has played an important role in the regulatory environment which will protect the public from fraud within corporations. Even when this act has played an important role it is clear the implementation of the act by legislation is not going to solve the problem of fraud. However; with the implementation of The Sarbanes – Oxley  Act, of The Securities and Exchange Commission, The Securities Act of 1933, and The Securities Act of 1934 it has assisted with minimizing fraud as well as to create transparency when companies are following rules and regulations presented by the gover nment. References Corporate Secretary. (2014). Ten events that have changed corporate governance. Retrieved from http://www.corporatesecretary.com/articles/regulation-and-legal/12277/ten-events-have-changes-corporate-governance/ University of Phoenix. (2014). Week 1 Study Guide: Introduction to Financial Reporting. Retrieved from University of Phoenix, ACC561 Accounting website. U.S. Securities and Exchange Commission. (2013). The Investors Advocate: How the SEC Protects Investors, Maintains Market Integrity, and Facilitates Capital Formation. Retrieved from http://www.sec.gov/about/whatwedo.shtml U.S. Securities and Exchange Commission. (2013). Codification of Staff Accounting Bulletins. Retrieved from http://www.sec.gov/interps/account/sabcodet1.htm

The Free Will of Macbeth Essay -- Macbeth essays

The Free Will of Macbeth      Ã‚   Destiny "Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved." (William Jennings Bryan) Are we in control of our own destiny, our own fate, or are our lives really already planned and mapped out for us? Does Macbeth willfully choose evil in order to achieve his "destiny"? Or, is his "destiny" doomed by the witches' prophecies? Macbeth may not have made any of his same choices, if the three Weird sisters hadn't come to him. In Shakespeare's play Macbeth, Macbeth is no pawn of fate. Although Macbeth was destined to become king, the path he chose to take to achieve his aspiration of obtaining the throne was of his own free will. Macbeth knew exactly what he was doing in order to attain his destiny of becoming king. Although Macbeth was skeptical about the witches' predictions he later learned as the play progressed that destiny truly determined his future.    The prophecy of the witches was that Macbeth would become king. Nowhere did the witches predict the following events in Macbeth's life before he reached the throne. The prophecy of Macbeth becoming Thane of Cawdor had already come true, enhancing Macbeth's aspirations of becoming king. The second prophecy would certainly come true for him, but he has to choose how to get there. Macbeth was destined for the throne, however obtaining that destiny was completely up to him. Killing Duncan seemed to be the only way for him, even though he knew it was wrong. Macbeth was well-aware his actions were immoral and unjust, and he continued with the murders anyway. He contemplates the reasons for why it would be wrong to kill Duncan, showing he could have ... ...rely different way if he had not already been told his future. The witches could have very well enhanced Macbeth's desires he had held up inside him, causing him to make such evil and terrible choices. Macbeth believed that there was a destiny, for he was so threatened by Banquo's destiny of being father to a whole line of kings, that he had Banquo murdered. As the play progressed, Macbeth learned that his destiny ultimately forms his future.    All Macbeth's actions were choices to attain his destiny, but they were nonetheless choices of his own free will. Macbeth was destined to become king; however, destiny doesn't come along with the choices made to achieve that destiny. Macbeth knew what he was doing.    Work Cited Shakespeare, William.   Tragedy of Macbeth . Ed. Barbara Mowat and Paul  Ã‚   Warstine. New York: Washington Press, 1992.  Ã‚  Ã‚  

Frito Lay Case Study

Develop A Plan for Implementing the Chosen Alternative Porter’s Generic Business Strategy Cost Leadership Strategy It is a low cost strategy focusing on broad mass market. – Requires good scale facilities, tight cost and overhead controls and cost minimization in selected functional areas like manufacturing cost, marketing, r & d and advertising Reasons for cost reduction:- Learning experience Frito Lay’s is a worldwide leading manufacturer of snack chips and has 8 to 10 top ten famous brand with brand loyalty customers. They have skills and thereby increase the productivity of the labour.Specialisation and division labour Standardization of work may increase productivity by labour. Efficency is the key factor with less training. – Economies of scale Mass production will reduce the cost. As per test market, Frito Lay’s will be serving about 1. 98 million households that are identified as users of snack chips at the area of Minneapolis – St. P aul Metropolitan. As such, – Control of expenses can charge lower price to customer – Low price strategy serves as a barrier of entry to competitors Differentiation Strategy It is pursued when the product can be differentiatedSun Chips Multigrain Snack is a crispy consisting of blend whole wheat, rice, corn and oat flours with lightly salty multigrain taste and slightly sweet aftertaste. Brand loyalty able to create barriers to entry for new entrants Frito Lay’s has good reputable brand name with their other well-known brand and it is difficult for competitors to entry for new entrants due to high cost of marketing. Frito Lay could use their brand name as the key differentiating strategy in attracting new customer 3. Focus Strategy – Focuses on certain segments of the market in selling productsFrito Lay’s target market segment is those who is taking snack but not everyday because of health conscious concerns – Able to focus efforts on specif ic target market segment more efficiently Develop A Plan for Implementing the Chosen Alternative Porter’s Generic Business Strategy Cost Leadership Strategy It is a low cost strategy focusing on broad mass market. – Requires good scale facilities, tight cost and overhead controls and cost minimization in selected functional areas like manufacturing cost, marketing, r & d and advertisingReasons for cost reduction:- Learning experience Frito Lay’s is a worldwide leading manufacturer of snack chips and has 8 to 10 top ten famous brand with brand loyalty customers. They have skills and thereby increase the productivity of the labour. Specialisation and division labour Standardization of work may increase productivity by labour. Efficency is the key factor with less training. – Economies of scale Mass production will reduce the cost. As per test market, Frito Lay’s will be serving about 1. 8 million households that are identified as users of snack chips at the area of Minneapolis – St. Paul Metropolitan. As such, – Control of expenses can charge lower price to customer – Low price strategy serves as a barrier of entry to competitors Differentiation Strategy It is pursued when the product can be differentiated Sun Chips Multigrain Snack is a crispy consisting of blend whole wheat, rice, corn and oat flours with lightly salty multigrain taste and slightly sweet aftertaste.Brand loyalty able to create barriers to entry for new entrants Frito Lay’s has good reputable brand name with their other well-known brand and it is difficult for competitors to entry for new entrants due to high cost of marketing. Frito Lay could use their brand name as the key differentiating strategy in attracting new customer 3. Focus Strategy – Focuses on certain segments of the market in selling products Frito Lay’s target market segment is those who is taking snack but not everyday because of health conscious concer ns – Able to focus efforts on specific target market segment more efficiently Frito Lay Case Study Develop A Plan for Implementing the Chosen Alternative Porter’s Generic Business Strategy Cost Leadership Strategy It is a low cost strategy focusing on broad mass market. – Requires good scale facilities, tight cost and overhead controls and cost minimization in selected functional areas like manufacturing cost, marketing, r & d and advertising Reasons for cost reduction:- Learning experience Frito Lay’s is a worldwide leading manufacturer of snack chips and has 8 to 10 top ten famous brand with brand loyalty customers. They have skills and thereby increase the productivity of the labour.Specialisation and division labour Standardization of work may increase productivity by labour. Efficency is the key factor with less training. – Economies of scale Mass production will reduce the cost. As per test market, Frito Lay’s will be serving about 1. 98 million households that are identified as users of snack chips at the area of Minneapolis – St. P aul Metropolitan. As such, – Control of expenses can charge lower price to customer – Low price strategy serves as a barrier of entry to competitors Differentiation Strategy It is pursued when the product can be differentiatedSun Chips Multigrain Snack is a crispy consisting of blend whole wheat, rice, corn and oat flours with lightly salty multigrain taste and slightly sweet aftertaste. Brand loyalty able to create barriers to entry for new entrants Frito Lay’s has good reputable brand name with their other well-known brand and it is difficult for competitors to entry for new entrants due to high cost of marketing. Frito Lay could use their brand name as the key differentiating strategy in attracting new customer 3. Focus Strategy – Focuses on certain segments of the market in selling productsFrito Lay’s target market segment is those who is taking snack but not everyday because of health conscious concerns – Able to focus efforts on specif ic target market segment more efficiently Develop A Plan for Implementing the Chosen Alternative Porter’s Generic Business Strategy Cost Leadership Strategy It is a low cost strategy focusing on broad mass market. – Requires good scale facilities, tight cost and overhead controls and cost minimization in selected functional areas like manufacturing cost, marketing, r & d and advertisingReasons for cost reduction:- Learning experience Frito Lay’s is a worldwide leading manufacturer of snack chips and has 8 to 10 top ten famous brand with brand loyalty customers. They have skills and thereby increase the productivity of the labour. Specialisation and division labour Standardization of work may increase productivity by labour. Efficency is the key factor with less training. – Economies of scale Mass production will reduce the cost. As per test market, Frito Lay’s will be serving about 1. 8 million households that are identified as users of snack chips at the area of Minneapolis – St. Paul Metropolitan. As such, – Control of expenses can charge lower price to customer – Low price strategy serves as a barrier of entry to competitors Differentiation Strategy It is pursued when the product can be differentiated Sun Chips Multigrain Snack is a crispy consisting of blend whole wheat, rice, corn and oat flours with lightly salty multigrain taste and slightly sweet aftertaste.Brand loyalty able to create barriers to entry for new entrants Frito Lay’s has good reputable brand name with their other well-known brand and it is difficult for competitors to entry for new entrants due to high cost of marketing. Frito Lay could use their brand name as the key differentiating strategy in attracting new customer 3. Focus Strategy – Focuses on certain segments of the market in selling products Frito Lay’s target market segment is those who is taking snack but not everyday because of health conscious concer ns – Able to focus efforts on specific target market segment more efficiently

Contractual Right and Responsibilities - Free Essay Example

Sample details Pages: 5 Words: 1486 Downloads: 10 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? 1 | Page Contractual Right and Responsibilities Nowadays there are a lot of rights and responsibilities for employer as well as employee at every work place. Rights at work depend on statutory rights written by law and contract of employment in between an employer and an employee. The contract of employment can differ slightly within the businesses but statutory rights are all similar for everyone. Don’t waste time! Our writers will create an original "Contractual Right and Responsibilities" essay for you Create order What an employer is responsible for and the legislation that affects that? There are lot of statutory rights from an employer based on laws passed by Parliament. They are: to be paid the national minimum wage not to have illegal deductions made to have paid holidays, at least 28 days a year to receive a written contract to have itemised pay slips to have time off work for trade union duties; if being redundant; for study or training for 16-17 year olds; for antenatal care to have paid maternity, paternity and adoption leave to ask for flexible working to work 48-hour a week, have weekly and daily rest breaks no discrimination to work till at least 65 to receive notice of dismissal, as well as written reasons for that; employee can claim compensation if unfairly dismissed to claim redundancy pay to work partà ¢Ã¢â€š ¬Ã¢â‚¬Å"time and receive the same contractual rights as a full-time worker Under Health and Safety at Work Act 1974 employers are responsible for health and safety management. It is their duty to protect the health and safety of their employees and other people who can be affected by their business. They should carry out risk assessments at work for identifying any harm at a workplace. Employees should receive a full Health and Safety training before starting any job especially building jobs; they should know how to deal with the risks at work.[1] Contract of Employment The contract of employment is a written or verbal agreement between the employer and the employee. After 2 months of employment every employee should receive a written contract of employment. Contract of Employment must include such elements as: Job title which position you are going to occupy Wages how much money are you going to be paid Hours of work à ¢Ã¢â€š ¬Ã¢â‚¬Å" how many hours a week you are going to work Sick pay à ¢Ã¢â€š ¬Ã¢â‚¬Å" how much are you going to be paid while being sick Holiday entitlement à ¢Ã¢â€š ¬Ã¢â‚¬Å" how many paid days off are you going to have a year Pension schemes Notice à ¢Ã¢â€š ¬Ã¢â‚¬Å" how many days before you should notify your employer about leaving the job Grievance, dismissal and disciplinary procedures[2] What an employee required to do and the legislation affecting them? The employee required to know all the statutory rights they have and always read through the contract of employment before signing it. Employees are responsible for: Carrying out the duties of their position Complying with workplace rules, regulations, policies and legislation Informing the supervisor or manager of any unlawful or discriminatory behaviour Treating clients, co-workers and the public with respect By law employees are responsible: to create a healthy environment at work which will be free of discrimination to cooperate with and participate in the employerà ¢Ã¢â€š ¬Ã¢â€ž ¢s attempts in accommodating employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s needs that are protected by law to cooperate with the employer in accommodating co-workers. For example: if there is an employee with a disability, other employees might be doing the job which disable person cannot perform to follow Health and Safety rules at a work place to co-operate with employers and co-workers or not to have an offensive behaviour at work and outside There are lots of rights and responsibilities for every person involved in work process. The most important thing is to obey these rules and always to carry out only legal actions which are protected by law.[3] Employment Legislation Working time regulations You have basic rights as a full-time employee. They are: you cannot work more than 48 hours a week you are entitled to 28 days paid leave per year if you work 5 days a week you are permitted to have at least 11 hours rest between working days after working 6 hours or work you need to have a 20-minute rest break you have the right to either 24 hour free from work period each week or 48 hours each fortnight National Minimum Wage As of 1 October 2013 national minimum wage is:  £6.31 per hour à ¢Ã¢â€š ¬Ã¢â‚¬Å" 21 years old and more  £5.03 per hour à ¢Ã¢â€š ¬Ã¢â‚¬Å" 18-20 years old  £3.72 per hour à ¢Ã¢â€š ¬Ã¢â‚¬Å" 16-17 years old Sick Leave and Pay If you are sick and not able to work you only need to inform your employer and to provide proof of illness after 7 days off work sick. Weekly Statutory Sick Pay is  £86.70 for up to 28 weeks. Notice of dismissal The procedure of dismissal is: send you a written statement with the reason to dismiss you hold a meeting with you to discuss the matter hold an appeal meeting with you, if you are not agree with your employer and want to appeal against dismissal if you still disagree with the result of your appeal you can still take your employer to an employment tribunal The period of notice is: one week à ¢Ã¢â€š ¬Ã¢â‚¬Å" if you worked for one month but less than 2 years two weeks à ¢Ã¢â€š ¬Ã¢â‚¬Å" if you worked for two whole years one extra week for each year of employment Employment Act 2008 The employerà ¢Ã¢â€š ¬Ã¢â€ž ¢s duty is to make reasonable adjustments to grievance, disciplinary and other workplace procedures. Disciplinary situations include misconduct and poor performance. Grievances are concerns, problems or complaints that employees can raise with their employers[4]. Equality Act 2010 The Equality Act consists with over 116 separate bits of legislation into one single Act. The nine main bits are: the Equal Pay Act 1970 the Sex Discrimination Act 1975 the Disability Discrimination Act 1995 the Race Relations Act 1976 the Employment Equality Regulations 2003 (Religion and Sexual Orientation) the Employment Equality Regulations 2006 the Employment Equality Regulations 2006 part 2 the Equality(Sexual Orientation) Regulations 2007 Data Protection Act 1998 Any company or professional that wants to store personal data from their clients are under requirements of the Data Protection Act. There are several requirements: Information must be processed fairly and lawfully Information collected must be processed for limited purposes Information collected must be accurate and up to date Information collected must be adequate, relevant and not excessive Information must be processed according to individualà ¢Ã¢â€š ¬Ã¢â€ž ¢s rights Information must be not held for longer than is necessary Information must be kept secure Information must not be spread outside the European Economic Area Working in office Under the legislation there are several rules which have to be followed while working in an office. They are: Working Environment: cleanliness à ¢Ã¢â€š ¬Ã¢â‚¬Å" all furniture, furnishings and fittings in the office shall be kept in a clean state overcrowding à ¢Ã¢â€š ¬Ã¢â‚¬Å" the room where you work shouldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t be overcrowded that may lead to injury at a work place temperature à ¢Ã¢â€š ¬Ã¢â‚¬Å" effective provision shall be made for maintaining a reasonable temperature in the office ventilation à ¢Ã¢â€š ¬Ã¢â‚¬Å" the room should be ventilating frequently lighting à ¢Ã¢â€š ¬Ã¢â‚¬Å" there should always sufficient and suitable lighting in the room, whether natural or artificial[5] Welfare Facilities: sanitary conveniences there should be suitable and sufficient sanitary conveniences for workers use; they should be kept clean all the time washing facilities à ¢Ã¢â€š ¬Ã¢â‚¬Å" there should be suitable washing facilities, supply of clean towels and soap, cold and warm water supply of drinking water should be sufficient and clean rest and eating à ¢Ã¢â€š ¬Ã¢â‚¬Å" there should be suitable rest facilities where workers can eat meals; there should be a canteen or a place where workers can obtain hot food changing facilities à ¢Ã¢â€š ¬Ã¢â‚¬Å" there should be changing facilities in areas where special clothing is required(for example: uniforms or special protective clothes) Workplace Safety: maintenance à ¢Ã¢â€š ¬Ã¢â‚¬Å" any equipment or part of the workplace that could bring a risk to the health, safety or welfare of staff should be maintained in a safe condition floors, doors, walls and windows à ¢Ã¢â€š ¬Ã¢â‚¬Å" should be in good condition, should be made from safety materials and protected against breakage While working in the office you will be dealing with lots of different electric devices. Letà ¢Ã¢â€š ¬Ã¢â€ž ¢s take as an example Display Screen Equipment (DSE). If you regularly use DSE at work you must: analyse workstations to assess and reduce risks of injury make sure controls are in place have a special training obtaining all information required for use of this equipment do regular eye and eyesight tests[6] Jevgenija MalisevskajaCentre number 54354Unit 17, Task 3 [1] material were taken from https://www.hse.gov.uk/workers/responsibilities.htm [2] materials were taken from https://www.out-law.com/page-455 [3] Materials were taken from https://www.adviceguide.org.uk/england/work_e/work_rights_at_work_e/basic_rights_at_work.htm [4] Materials were taken from https://www.adviceguide.org.uk/england/work_e/work_rights_at_work_e/basic_rights_at_work.htm [5] Materials were taken from https://www.adviceguide.org.uk/england/work_e/work_rights_at_work_e/basic_rights_at_work.htm [6] Materials were taken from https://www.adviceguide.org.uk/england/work_e/work_rights_at_work_e/basic_rights_at_work.htm

Worksheet 1 Authors Purpose

Television Does More Harm Than Good - 596 Words

Television does more harm than good When the TV was invented, it impressed the whole world, so everyone since then seeks to buy a one. In the past TV was only has less than ten channels and it were locked in the latest hours of night. But now there is thousands or millions of satellite channels are broadcasted on TV. As a result the number of TV owners has risen until 98% of American households have a TV set and the same is true of most developed countries. In fact, television channels should be boycotted by the public because most of these channels broadcast valueless programs and sometimes telecast programs that have a negative effect on the spectator and society, so television does more harm than good.†¦show more content†¦Proponents of TV sometimes suggest that TV makes the world a small village as it closes the gap between different nations and cultures, for example satellite TV news reaches people simultaneously all around the world, as result cultures approached from each other, so the unde rstanding and respect rose between them. However the satellite channels are controlled by powerful western corporations and the culture of the programs is predominantly North America, European or Australian, so they service the interests of these corporations, as a result of that there is not an equal sharing of information, opinions or cultural expressions. Television is often used as a propaganda tool way to enter everyones home and brain, so the powerful western corporations used it in a very subtle way to encourage materialism by developing a desire in developing countries for Coca-Cola, Big Macs, fast cars and western fashion. In conclusion, television has become a tool in the hand of the western world by which they can control the rest world, so everyone should stop for seconds before switching on a TV and think of what he is coming to do, he must deduce that TV viewing accelerate the process of Coca-colonization, destroys the art of conversation, healthy, optimistic view of l ife and turns people into unthinking, illiterate couch potatoes. Just a drug addict must be fought in order to avoid an early death, so theShow MoreRelatedTelevision s Effect On Children887 Words   |  4 PagesTelevision a Tool for Education or a Harmful Obstacle Television is it a tool for education or a distraction that is an obstacle? 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She links the dependence upon television as a mode of entertainment to everything from declining SAT scores to a decline in the ability of families to connect with one another. Television enables families to avoid talking during difficult times and families sit around the television like a fireside. Encouraging

Coordinate Implementation of Customer Service Strategies

Question: Discuss about the Coordinate Implementation of Customer Service Strategies. Answer: A Description of the Problem The two problems that the company is facing are the issues of stiff competition and lack of information about the tastes and preferences of the customers. The stiff competition may be as a result of the emergence of other market players or other rivals adopting strategic policies that have made them more efficient. The customers, on the other hand, may have changed their tastes and preferences which can be as a result of more uncontrollable factors such as inflation or unemployment. It is imperative that the problems are looked into so that the expectations of the company are solved (Tseng et al. 2011). There is need for various steps to be taken so that the firm is assured of its survival in the ever competitive market A List of Options or Slternatives for Solving the Problems The options that are available for the company include, carrying out market research on the market segments so as to establish the new needs and preferences of the potential customers (Goetsch Davis, 2014). The investigation of the needs will make the company strategize on what to do so that it customizes the goods to correspond with the requirements of the potential customers. The assessment of the market can also make the company develop more products that the competitors are dealing with and are being preferred by the target segment (Kiel, 2014). Moreover, it is imperative for the ABC Company to seek more information about the competitive company that they share with the market segments so as to establish the processes that they are engaging with so as to gauge on the policies that they can put in place to ensure that they acquire a competitive edge in the market. The last option would be to make changes in the training and development procedures that would make the employees mor e competent in the context of creating an organization that is customer centric. Processes used to Generate these Alternatives The research and development of the trends that are occurring in the market segment will encompass the allocation of funds to the research and development department that will, later on, appoint individuals that will engage in the market survey for a designated period of time9 Mac Cormack, 2013).The researchers will then report on their findings which later on will be used by the organization to formulate on the feasible policies on how to better satisfy the needs of the customers. Also, it may also carry out benchmarks with some of the market players so that the employees can exchange information on the strategies that they are using such as technologies that make their goods to be of better quality (Johnson, 2016). Training and development may be carried out where the company may agree to be training a specific number of employees to say ten per week on quality customer services. It is also ideal for the company to contact some of the customers and inquire from them their take on t he goods and services of the company. Course of Action Based on the Best Options Outlined The aptest course of action would be adopting a customer relational marketing that aims at ensuring that customers are satisfied to the maximum. The wants and the needs of the customers are prioritized in every decision that the company makes (Galbraith, 2011). The customer is supplied with sufficient information about the company, availed to quality goods and services and given an opportunity to be time averse. Also, the company must ensure that the lifestyle and the culture of the customer are fully incorporated in the delivering of the services. Strategies for Resolving theIssues, and justification of those Strategies and the Costs Involved The strategies that will be involved will be those that ensure that customers have an opportunity to interact with the customer service givers in the case of any inquiries. In addition, the customers should be able to access information about the company through the company website, and they can make their orders (Greaney, 2015). Moreover, the company will ensure that customers are given experiences such as self-service and the ability to use credit cards for the payment of services because most of the customers are trendy. The costs that will be incurred will be those to do with employing more competent staff workers that can help in conducting the customer care services. There will also be costs associated with the managing of the websites and the transportation costs of delivering the ordered goods to the customers. The Personnel who Should be Involved and their Roles The staff that will be involved in the new strategy will involve the customer caregivers and the human resource manager who will help in the coordination of the services of the personnel (Brown Brown, 2014). The customer caregivers will have the role of listening and responding to the customer complaints and responding to them in the most appropriate manner. The major role of the human resource manager will be to ensure that the right personnel is recruited and placed in the right jobs. Expected Outcomes of the Interventions the Expected Outcomes of the Interventions and a Statement of the Likely Results if the Interventions are not Implemented The interventions will be fruitful in the sense that they will ensure that customers are retained through the provision of the quality services and goods. In addition, the company expects that its sales will improve through the blending of the customer values and expectations with the objectives of the company (Wieseke et al. 2014).The outcomes that will be experienced if the expectations are not met is the fact that the company will make losses because of the increased costs that were added to its budget. Also, the company will experience stiff competition from other competitors who were also adopting the same strategies. Relevant Legislation The legislation that can apply in this case could be the government reducing the value added tax that is included in the consumer goods and services (Debruyne, 2014). The legislation will make the goods and services to be cheap, and this will make the products of the company to be more appealing to the customers. Survey Questions As a customer, are the products of the company meeting your basic requirements? As a company, do you think we understand your wants? Do you think we are doing everything in our capacity to satisfy your wants? If we were to advance our services as a company what are your suggestions on what we were to change on our products? As a customer, do you think that we are effective in our service delivery? If you were to access information about another product from another company will you prefer that product to ours? Why? In your view, what scores between medium, low and high, would you rate our goods and services? Description on how the Survey was Conducted The survey was conducted through availing the questionnaires to the customers via their emails, and others were handed to the customers when they visited the stores to purchase goods. After filling the questionnaires, the customers sent them to the email of the company or dropped them in the collection containers at the organization (Dale, 2015). The collection of the questionnaires lasted for two weeks. The questionnaires majorly targeted the customers of the company that was both from within the locality of the organization and those that were from other states. Statement of the number of People who Responded and the Percentage Response The questionnaires were given to about 1000 customers, and a total of 842 responded and delivered their responses to the organization. The percentage of those that responded was 84.2% that was a meaningful number to base the views of the whole population of the market segment. The 1000 customers were to act as the sample size. It was a good achievement for the company for it was able to acquire information from a large number of correspondents (Minarti Segoro, 2014). The Collated and Summarized Results The outcome of the survey indicated that 79% of the customers felt that the company was sensitive to their needs, wants, and expectations. 18% of the customers suggested that the company was not conversant with their wants and that amendments were to be made on the service delivery. 3% of the respondents were indifferent on the goods and services of the company; they were not sure on how to rate the company's performance on customer services. The customers depicted that the corporation was in a good position though a lot was to be done on developing the products so that customers were more confident. Report The survey was conducted within a designated time frame. The survey worked within the budget, and thus there were no added costs to the operations of the company. The survey was effective in that it was able to be done in the time frame and the target number of customers was met with a very small disparity. When the questionnaires were received back, the suggestions of the customers were received positively. The questionnaires were assessed, and the responses were presented in the form of graphs that helped in the analyzing of the data that was gathered. The major shortcoming of the survey was the limited resources that denied the company an opportunity to have more responses from the potential customers. The figure that was targeted was 1000 which could have been larger were it not for the inadequate resources of the company. In addition, there were some questions that were not comprehended by the respondents, and thus the responses that were given were insufficient for an informed analysis. It is evident that the customers preferences and wants are dynamic and that the company should implement more robust ways that will help in the integration of the customer needs, wants and expectations of the production process. The survey was a success given that it availed information that was sensitive to a customer and product centric organization. References Brown, L., Brown, C. (2014). The customer culture imperative. McGraw-Hill Education. Dale, B. (2015). Total quality management. John Wiley Sons, Ltd. Debruyne, M. (2014). Customer innovation: Customer-centric strategy for enduring growth. Kogan Page Publishers. Galbraith, J. R. (2011). Designing the customer-centric organization: A guide to strategy,Structure and process. John Wiley Sons. Greaney, T. L. (2014). Regulators as market-makers: accountable care organizations andcompetition policy. Ariz. St. LJ, 46, 1. Goetsch, D. L., Davis, S. B. (2014). Quality management for organizational excellence. Upper Saddle River, NJ: Pearson. Johnson, T. (2016). Cooperation, co-optation, competition, conflict: international bureaucracies And non-governmental organizations in an interdependent world. Review of InternationalPolitical Economy, 23(5), 737-767. 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